Business has not yet turned for the better and keeping an eye on your
receivables is as important as ever.  Additionally by the time this article
reaches print there won't be much time until the Christmas holiday season comes
and goes.  If you have been in business any length of time you know that
marginally solvent business often hang on through end of December and then
close.  That could mean that bills, like the alarm bill, stop getting paid just
about the time you are reading this Security Dealer article.  Be vigilant.
Check your receivables now and those in default warrant your attention.
Creditors who act fast and furious are the ones who get paid first, and
sometimes they are the only ones that get paid at all.

     Here are some perhaps obvious ideas that you should implement regarding
your collection practices:

1.  The process starts with knowing the full and correct name of your
subscriber; the full corporate or partnership name. [the correct name belongs
on the contract -- which you must have with every subscriber].
2.  Be certain to get the title of the person who signs on behalf of a non
person entity, such as a corporation.
3.  Confirm the name of your subscriber by checking a posted license, sales tax
notice, or corporate filing receipts if you can get to see them. Many
subscribers will have licenses posted in the premises that you can easily look
at.
4.  Make a copy of the checks you receive from your subscribers, especially if
the bank account is a new one.  Retain the copy with your subscriber's records.
5.  Try and get your subscribers tax id number.  In fact the new contracts call
for that information so that you can fill out the UCC form for your security
interest.
6.  Retain records of service requests and calls.
7.  Obtain records from the central station to confirm that the alarm system
was tested and working when installed and get periodic test signal confirmation
and retain those records in your subscriber's file.
8.  Be mindful of your subscriber's payment practice history.  In other words,
if the customer typically pays within a particular time frame then you need to
be alerted to a failure to pay within that period. You need to contact the
subscriber to ascertain why payment is not being made in the customary manner.
If you do not receive a satisfactory answer then that is the time to refer the
subscriber to "collection."  Each subscriber therefore establishes its own
schedule based on past payment history.  One subscriber may be fine running 4-6
months in arrears, and another may cause you reason for concern if payment is
not received within 15 days.
9.  Remember to keep matters on a professional level.  Do not get into a
personality conflict with your subscriber over late payment of default.
10. Refer the matter to a lawyer familiar with alarm collection practice; avoid
collection agencies and your relatives.